Gary Teichmann has been confirmed as the new CEO of the Sharks.

He will replace John Smit, who recently announced that he would leave the role at the end of October.

As a player, Teichmann captained the Sharks to Currie Cup wins in 1995 and 1996, and to the Super 12 final in 1996. He captained the Springboks in 36 of his 42 Tests and was in charge when the team won a record-equalling 17 Tests in 1997-98.

Teichmann has become a successful businessman since retiring from rugby and is a director at Teichmann Plant and Civils. He has great support among former Sharks players and businessmen in Durban.

'At work [Teichmann Plant and Civils], I am in the right space and I have decent guys to run that business,' Teichman told reporters on Wednesday. 'Having chatted with [Sharks chairman] Stephen [Saad], [board member] Terry [Rosenberg], [KwaZulu-Natal Rugby Union president] Graham [MacKenzie] and [shareholders] SuperSport, I believe there is a vision I want to be part of.'

Teichmann admitted there were issues to resolve before getting on with a new vision at the Sharks.

'John had to solves issues when he came in, and I think he did well,' he said. 'Once we deal with our challenges, and they are solved, we will take it from there. I think it is a difficult business, but we have to do whatever we can to keep players here, and make them want to play for South Africa.'

Meanwhile, The Mercury reports that the KZNRU has sold off 9% of the union’s shares in Sharks (Pty) Ltd to equity partners SuperSport for a speculated amount of R40-million. SuperSport previously held a 40% share in the Sharks. The KZNRU, which now has a 51% Sharks stake, will use the money to settle debt.

Teichmann can turn Sharks around

Photo: Steve Haag/Gallo Images